The acquirer said that the acquisition of money transfer agent will enable the company to move closer to its consumers to fulfill their growing funds transfer needs.
Prior to the acquisition of non-exclusive agent Latino Services, which sends remittances from the US to Mexico and Latin America, MoneyGram was running stores in Miami, Florida, and New York City.
Now, the company will get 10 new company-operated stores serving Atlanta customers and the acquirer can check new strategies in the market.
Commenting on the acquisition, MoneyGram US, Canada senior vice president Pete Ohser said, "We continue to find new ways to provide convenient access to our customers and are evolving to fit their needs."
"We’re working to bring added value and convenience to those we serve – to provide consumers with the ability to transfer funds any place, any time, and in the most efficient and secure way possible."
MoneyGram provides bill payment services in the US and Canada and money transfer services across the world leveraging a global network of 321,000 agent locations including retailers, international post offices and financial institutions.
